US EditionMissouri Voters to Decide Income Tax Phaseout and Sales Tax Expansion
The proposal would let lawmakers phase out the income tax and widen the sales tax base, while a nonprofit says middle-income families could pay $535 more a year.
- On the ballot later this year, Missouri voters will decide whether to eliminate the individual income tax while authorizing a sales tax expansion, marking the first time a U.S. state legislature has asked voters to eliminate the tax.
- The General Assembly approved the constitutional amendment last week, directing lawmakers to phase out income taxes gradually based on revenue growth over five years.
- Carl Davis, research director at the Institute on Taxation and Economic Policy, estimated a family earning between $49,000 and $78,000 would pay $535 more in taxes annually under the proposal.
- Retired elementary school teacher Sharon Wells worries her overall tax bill could rise if income taxes are replaced with broader sales taxes, particularly since ballot wording avoids the word 'increase.'
- Katherine Loughead, director of state tax projects at the Tax Foundation, stated that voter approval could embolden other states to accelerate their own planned income tax reductions.
39 Articles
39 Articles
In one state, voters will get to decide whether to eliminate the income tax. Will more follow?
It's not every day — or even every decade — that voters are presented a decision like this: Should the state's individual income tax be eliminated? When that question appears on a Missouri ballot later this year, it will mark the first time since the modern income tax began over a century ago that a U.S. state legislature has asked voters whether to eliminate the tax. If they say “yes,” they will also be authorizing a sales tax expansion. Missou…
Letter to the editor: Missouri sales tax plan deserves a flat no
Marvin Sands, Independence To the editor: The Missouri General Assembly recently passed one of the worst pieces of legislation in its entire history. Both the… Login to continue reading Login Sign up for complimentary access Sign Up Now Close The post Letter to the editor: Missouri sales tax plan deserves a flat no appeared first on The Examiner.
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